Capitec’s headline earnings per share dropped 78 per cent, as the bank suffered from the effects of COVID-19.
PSG will soon close the curtain on its reign as Capitec’s largest shareholder. The investment holding group last night revealed long waited plans on how it would offload its majority shareholding in Capitec. PSG CEO, Piet Mouton joins CNBC Africa for more.
Capitec will not pay a final dividend to shareholders. Nor will the banks executives receive cash bonuses or salary increases. This is in line with guidance from South Africa’s Reserve Bank that banks preserve cash for increased lending that may be required due to COVID-19. Capitec CEO, Gerrie Fourie joins CNBC Africa for more.
South African lender Capitec said on Tuesday it would not pay a dividend for its full year, although profits rose by 19%, in line with guidance from the country’s central bank to scrap payouts amid the coronavirus outbreak.
Solidarity’s 10th annual report on the state of bank charges in South Africa’s big 5 banks, has revealed that Capitec is South Africa’s number one bank who offers the cheapest account to low-income users. Joining CNBC Africa for more is Monica Mynhardt, Researcher at the Solidarity Research Institute.
South African lender Capitec Bank on Thursday reported profit for the first half of the year grew 20%, in line with expectations, thanks to...